Stock Market October Correction

Stock-Markets / Stock Markets 2024 Sep 30, 2024 - 06:03 PM GMT

Stock Market Brief - 30th Sept 2024 - 5am UK Time

S&P FOMO's to new all time high which is against the seasonal trend for a down Sept, which is good in that it is the focus of my next analysis that allows one to determine what follows an UP Sept and it's derivatives for what it means for not just the next few months but for the whole of 2925. Preliminary analysis suggests to expect a strong Q4 and a bullish 2025 which will be the third full year of the stocks bull market, yes that's right those FOMO buying to push the S&P to a new all time high are TWO YEARS LATE TO THE PARTY! The true smart money was FOMO catching those falling knives into the October 2022 lows as I stated at the time your best buys will be your most painful to do!

http://www.marketoracle.co.uk/images/2022/Sep/Dow-short-term-trend-analysis-3-10.jpg

However, most target AI tech stocks remain firmly within the correction window, i.e. Nvidia, Google, AMD, whilst those that were expected to buck the trend are flying high i.e. Tesla, still the unexpected rally has afforded an opportunity to trim stocks such as Paypal, Arrow, Micron, JBL, TSM, WDC, DOCU, META, AMZN and so on. Even the chinese stocks chose to FOMO on the back of PBOC money printing allowing one to start trimming TCEHY and BABA as they are only just starting their bull markets, i.e. BABA targets $120 and then $136 and then all the way to $200+

Bitcoin continues to check off the to do list by trading above $63.5k, and then $65k, all whilst from within the correction window and to think barely 3 weeks ago some Patrons were in total despair at BTC $54k, my response was BTC has a destiny with $100k+ probably before year end, so once the correction window ends we should see BTC blasting off to a new all time high and trend towards $100k+ Whilst MSTR X2's what bitcorn does! Already up 50% from it's recent low, my long standing $250 target looks set to be EASILY exceeded, $300 looks doable by $100k.

And lastly the Fourth Reich is using US election weakness as cover to go on the rampage now in Lebanon, murdering thousands more of what the 'master race' see as non human all whilst playing the perpetual victim. Goebbels would be proud of Zionwood propaganda. It is what it is, the tail that wags the dog, All whilst President Biden tries to remember who he is.

Bottom line despite a S&P new high we remain in the correction window going into at least Mid October so we should soon see a third opp to accumulate target stocks during the Mid July to Mid October correction window where for the S&P 5500 looks doable.

Next article ETA before Tuesdays open.

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Most Recent Analysis - Stock Market Trend Forecast Sept 2024 to Jan 2025

CONTENTS

The Correction Window
US Interest Rate Cut Incoming
Stock Market 2024 Road Map
Stock Market and Presidential Elections
September the Weakest Month of the Year
Stock Market Trend Forecast Sept to Jan 2025
Stocks Bull Market Big Picture
2027 Destiny with a Bear Market
The AI Mega-trend is EXPONENTIAL
Why AI WILL Kill Jobs - The Robots Are Coming
AI Means Rendering in Real Time
AI Stocks Portfolio
INFLATION MEGA-TREND Tsunami Waves Current State
GBP Bull Market Trend
US House Prices
US Housing Stocks Current State
UK House prices
Presidents are Puppets on a String
US Presidential Election 2024
Bitcoin $60k

Recent analysis includes -

28th August 2024 - Nvidia Earnings vs Stock Market Correction Window

5th August 2024 - Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks.

30th July 2024 - Dubai Deluge - AI Tech Stocks Q2 Earnings Correction Opportunities

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By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 35 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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